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# System prepended metadata

title: Littlefish Meeting - Feb 7th 2022

---

# Littlefish Meeting - Feb 7th 2022

## Notes

Today's meeting we have a guest Robert O'brien.

He's working on bonding curves. These are automated market makers. No airdrops, no markets, fully deterministic price with mint/burn on demand functionaility built in. There are no needs for liquity pools.

Tokens can represent money. They can also represent any other type of information. Markets are computational systems. 

Robert's work is inspired by institutional economics (Ostrom. How do we do social choice? 

If you have to vote you have failed in achieving governance/consensus. 

people reveal their preferences in pricing functions

### Risk Adjusted Bonding Curves

Head of Engineering of IOG Shruti Appiah designed this: https://github.com/BlockScience/Risk-Adjusted-Bonding-Curves 

All economic design is already done. 

CadCad is the tool they've used to model this.

Risk Adjusted Bonding Curve has several roles like speculator.

Social Impact Bond model: A social impact bond (SIB) is a contract with the public sector or governing authority, whereby it pays for better social outcomes in certain areas and passes on the part of the savings achieved to investors. 

Risk Adjusted Bonding Curves are similar to social impact bonds. 

Donation process with bonding curves? 

Additivity: If I add one more dollar, does that affect impact? Similar concept is return on investment in business (ROI).

### Multicapital Accounting

At the moment, if its not on an income statement, it's invisible. 

Accounting is value measurement. Change it to change the world.

With income statements, everything boils down to profit. Profit doesn't capture all aspects. It is just a single scalar.

New Zealand reports on 4 capitals instead: financial, built/manufactured, intellectual capital. 

We can also measure: Human, social and environmental capital

Cardano defines value as a vector. Only blockchain to do that. It natively supports multicapital accounting. 

Core idea: Represent value in a richer format than a single number. 

### Applying this to Littlefish

Bonding curves for each project?

Instantiate as many as you need. Some projects will fall under the profitability level. We need to define success for each curve. If there is no success, there is no payment.

Robert's team is working on an implementation. Market ready in 12 months. Engineering on this project is more extreme. Built in a much stricter manner.

Bonding Curves not well understood at the moment. 

### Approaching tokenization

Business model canvas

Platform Design Toolkit

CadCad for modelling 

Serious games: https://en.wikipedia.org/wiki/Serious_game

Best practices are in the Token Engineering Commons: https://tecommons.org/

Writing plutus contracts is the last step. We wnat to know everything else before we do that.

Incremental design, granulize the problem. Doing things to learn. 

Ideas like innovation accounting from lean startup philosophy applies.

Working on the testnet is always a good idea. 

Upgradeable smart contracts are also possible. We just got to design for it.

### ESG Standardization

ESG matters are not standardized.

ESG matters are hyper local. Specific to local conditions. Standardizing investments into ESG matters are very difficult. Comparing them is difficult.

Closest we got: Impact Management Sometinhg Report

ETFs - Exchange Traded Funds. People can invest passively. Good diversity. Result of standardizing.

## Chat Log

```
22:02:55 From cagkan To Everyone:
	https://hackmd.io/tn3TtUabTyaGfz02nVhXcQ
22:07:23 From cagkan To Everyone:
	https://miro.com/app/board/uXjVOWGnhvE=/
22:18:11 From Robert O'Brien To Everyone:
	https://github.com/BlockScience/Risk-Adjusted-Bonding-Curves
22:18:52 From Seomon To Everyone:
	https://hackmd.io/YiOiG2Z4RBGqcPmrKilkEQ
22:40:34 From Dimitri Fernando To Everyone:
	what would be the best blockchain app technology to use ay to fund a project  using the profits of the particular app to constantly increasing output.  namely to construct a new children's home each month somewhere and new kids who live in that home. financed from age 0-21..  do any of your solutions give an idea what's the best way
22:41:06 From Nori Nishigaya To Everyone:
	Business Model Canvas is great
22:41:31 From Dimitri Fernando To Everyone:
	may not be directly relevant bit Robert is  here so.thoiught I'd ask
22:44:52 From Robert O'Brien To Everyone:
	https://tecommons.org/
22:57:28 From Özgür Akyar To Everyone:
	@nori Business Model Canvas is maybe a good start to have a general understainding  about the value. Otherwise I'm afraid to lose connection with new approaches brought by tokonomics engineering :(
23:12:33 From Dimitri Fernando To Everyone:
	feel free to use my projects for experiment
23:13:47 From Dimitri Fernando To Everyone:
	five loaves two fish project and pet food project. or even the kids homes project
23:17:29 From Yoram Ben Zvi To Everyone:
	Robert check out https://www.conser.ch/en
23:17:34 From Yoram Ben Zvi To Everyone:
	If can be relevant
23:17:43 From Robert O'Brien To Everyone:
	https://www.r3-0.org/
23:22:28 From Melanie -Cardano4Climate To Everyone:
	Aid is not sustainable
23:24:22 From Özgür Akyar To Everyone:
	social entreprenuership is the key
23:27:41 From Yoram Ben Zvi To Everyone:
	Thank you Robert and all. I need to drop off to another call in 3 min…
23:28:08 From Cem Karaca To Everyone:
	Thank you Yoram, see you soon
23:30:16 From Robert O'Brien To Everyone:
	https://www.radicalxchange.org/
23:30:32 From cagkan To Everyone:
	https://www.goodreads.com/book/show/36515770-radical-markets
23:37:39 From Melanie -Cardano4Climate To Everyone:
	Discord channel topic "SOE-FI" started 
	Can we please put the link to today's video in here.
	Robert has given us so much information! (And my wifi keeps crashing!)
	https://discord.gg/emya2kZ6qN
23:38:18 From cagkan To Everyone:
	For sure!
23:39:03 From Nori Nishigaya To Everyone:
	Wow, that is so amazing
23:42:46 From Robert O'Brien To Everyone:
	https://www.waikato.ac.nz/rangahau/
    
```